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Week Ahead: FOMC, Earnings, and Q2 GDP to move markets
The European Central Bank meeting on Thursday was basically a rehash of the Strategic Review: No change in monetary policy, no change in PEPP, and a statement wording change to reflect a “symmetrical 2%” rather than “Close to, but below 2%” This week, central bank focus will be on the FOMC meeting on Wednesday. Will …
Week Ahead: FOMC, Earnings, and Q2 GDP to move marketsRead More
Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costs
A employee sprinkles cheese on a burrito at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Consumer brands from Chipotle Mexican Grill to Whirlpool are dealing with inflation by passing higher costs onto their customers through price hikes. Many companies that reported quarterly results in the past …
California announces rollout of chip-enabled debit cards to deter theft of unemployment benefits
California will strengthen the security of the debit cards it uses to issue unemployment insurance and other benefits following a wave of fraud, according to an announcement from the state’s Employment Development Department. The state agency plans to work with Bank of America to start rolling out chip-enabled debit cards to new claimants, as well …
Weekly Economic & Financial Commentary: ECB’s Easing Measures Going Nowhere Fast
United States: COVID Rise Jitters Financial Markets, while Housing Perks Up July’s NAHB Housing Market Index slipped one point to 80. Housing starts beat expectations and rose 6.3% during June, although building permits fell 5.1%. Existing home sales climbed 1.4%. The Leading Economic Index (LEI) advanced 0.7% in June. Initial jobless claims rose to 419K …
Weekly Economic & Financial Commentary: ECB’s Easing Measures Going Nowhere FastRead More
Yen Lower Again as Risk Turned On, Loonie Shrugs Retail Sales
Yen drops broadly today as markets turn back into risk-on mode. It has indeed become the worst performing one for the week. Dollar is also staying to look a bit vulnerable against European majors and commodity currencies. Canadian Dollar is firm and shrug off retail sales data, which shows contraction. Question is now on whether …
Yen Lower Again as Risk Turned On, Loonie Shrugs Retail SalesRead More
Euro Yawns After ECB Meeting
It has been a very quiet day for the euro. In North American trade, EUR/USD is trading at 1.1772, up 0.01% on the day. ECB changes forward guidance On Thursday, the ECB met for the first time since releasing its strategy review. The markets were buzzing ahead of the policy meeting, as ECB President Christine …
USDCAD Recoils Beneath 200-SMA But Upside Still Active
USDCAD’s seven-week uptrend from the 6-year lows remains structurally intact with shaped higher lows and highs, in spite of the fresh pullback from the peak of 1.2807. Upside sentiment appears to be growing, something also being indicated by the softened negative slopes of the 100- and 50-day simple moving averages (SMAs). Furthermore, the rising 50-day …
USDCAD Recoils Beneath 200-SMA But Upside Still ActiveRead More
NZDUSD Is Possibly Bullish
Technical analysis The CCI with the MACD indicates that the uptrend may prevail The price is above MA(50), suggesting a possible movement upwards. What the possible outcomes are In our most likely scenario, the NZDUSD pair may attempt to break the first resistance level of 0.69823. If the pair manages to surpass the first resistance …
BTCUSD Still Bullish
Technical analysis The BTCUSD pair is consolidating around the mid-line of the daily Bollinger Band. A break above the mid-line exploses further gains towards the upper daily Bollinger Band, around the $35,250 level. The daily time frame also shows that large amounts of bullish MACD price divergence is present, and extends up until the $36,000 …
EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key Supports
The EURUSD is holding near the new multi-week low in early European trading on Friday, after strong upside rejection and subsequent drop on Thursday. The short-lived positive impact from ECB resulted in a brief correction which was capped by initial barriers (falling 10/20DMA’s). Upbeat German PMI data keep the pair afloat, but the reaction was …
EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key SupportsRead More
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Finance news
 Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costsA employee sprinkles cheese on a burrito at a Chipotle Mexican Grill restaurant in Hollywood, ... Read More  California announces rollout of chip-enabled debit cards to deter theft of unemployment benefitsCalifornia will strengthen the security of the debit cards it uses to issue unemployment insurance ... Read More  Futures edge higher after stocks notch 3-day win streakA Specialist trader works inside a booth on the floor of the New York Stock ... Read More |